Minsheng and RBC formed US$28 million joint venture

China's seventh largest bank forms joint venture with Royal Bank of Canada

1 minute readApril 22, 2008 at 12:58 AM

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Shanghai-listed China Minsheng Banking has formed a funds management company joint venture with Canada's largest bank, the Royal Bank of Canada (RBC) and Three Gorges Financial. The deal was approved by China Banking Regulatory Commission with Minsheng holding 60% and RBC 30%, while Three Gorges holds the remaining 10%.

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